Deposits at Cumberland County Federal Credit Union are protected up to $500,000 — the highest level of combined federal/private share insurance available. The federal government provides $250,000 of this protection, through The National Credit Union Administration (NCUA), the independent agency that administers the National Credit Union Share Insurance Fund (NCUSIF), and the Excess Share Insurance Corporation (ESI), a licensed property and casualty insurer, provides an additional $250,000. And because Individual Retirement Accounts (IRAs) are insured separately, your savings and retirement accounts at the credit union could have combined federal/private coverage of $1,000,000!

All individual share, share draft, and share certificate accounts held by the same member are added together and insured up to $250,000 by the NCUA and an additional $250,000 by ESI, for a total of $500,000. An individual share account is an account owned by one individual without the right of withdrawal by others. Individual accounts are insured separately from IRA and joint owners.

All joint accounts held by the same member are added together and insured up to $250,000 by the NCUA and an additional $250,000 by ESI, for a total of $500,000. Joint accounts are insured separately from individual and IRA accounts.

All IRA accounts held by the same member are added together and insured up to $250,000 by the NCUA and an additional $250,000 by ESI, for a total of $500,000. IRA accounts are insured separately from individual and joint accounts.

Like the FDIC’s Deposit Insurance Fund, the NCUSIF is a federal insurance fund backed by the full faith and credit of the United States government.

Not every credit union qualifies for ESI’s unique excess share insurance program. To be insured by ESI, a credit union must first satisfy ESI’s strict underwriting standards then subject itself to mandatory quarterly reporting, on-going monitoring and field examination by ESI.

Contact a Service Specialist with questions.

NCUA Electronic Share Insurance Estimator

The NCUA Electronic Share Insurance Estimator is available to help members better understand the protection offered by the NCUSIF. This interactive site allows users to input data to compute the amount of NCUSIF coverage available under different account scenarios.

About Cumberland County Federal Credit Union

We are Cumberland County Federal Credit Union (CCFCU) - Keeping Banking Simple Since 1954
We are here to help you. Help you save for your future. Help you buy a home. Help you get a reliable car so you can get to work to provide for your family. Help you pay for the unexpected furnace repair so you are warm and safe in the middle of a Maine winter. We ask our members why they choose CCFCU for their banking needs, more often than not, we hear that family or friends told them about us. It doesn’t get any better than that!

CCFCU is different from other financial institutions in many ways and we want to help make your life a little easier.